{"id":194907,"date":"2023-10-13T19:39:04","date_gmt":"2023-10-13T19:39:04","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194907"},"modified":"2023-10-13T19:39:04","modified_gmt":"2023-10-13T19:39:04","slug":"sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service\/","title":{"rendered":"Sam Bankman-Fried's legal team moves to pursue theory on FTX terms of service"},"content":{"rendered":"

Lawyers representing former FTX CEO Sam \u201cSBF\u201d Bankman-Fried are seeking to bring up certain information from\u00a0the crypto exchange\u2019s terms of service during witness testimonies.<\/p>\n

In an Oct. 12 filing in United States District Court for the Southern District of New York, SBF\u2019s legal team said the motion was aimed at addressing \u201caddress certain evidentiary issues\u201d in the ongoing criminal trial. The issue at stake involves competing theories by prosecutors and the defense team over the alleged misuse of FTX funds.<\/p>\n

According to Bankman-Fried\u2019s lawyers, prosecutors intended to call witnesses and establish their \u201cunderstanding and expectation\u201d of how their deposits at FTX would be used. Defense lawyers claimed that regardless of users\u2019 understanding of FTX\u2019s terms of service, \u201ccompliance with those terms is a defense to the charged offense\u201d. <\/p>\n

\u201c[I]t is the defense\u2019s position that the rights and obligations of parties to a\u00a0commercial relationship are not established by their expectations and understandings for\u00a0purposes of the misappropriation theory of the federal fraud statutes,\u201d said the filing, adding:<\/p>\n

The defense anticipates asking witnesses who were customers and investors of FTX and lenders to Alameda questions designed to elicit testimony about the factors they considered material in entering the arrangements and transactions at issue in this trial.”<\/p><\/blockquote>\n

<\/p>\n

Defense lawyers petitioned the court to allow them to question witnesses for the prosecution based on FTX\u2019s terms of service, as well as preclude testimony from \u201clay fact witnesses\u201d. They cited testimony from Paradigm co-founder Matt Huang, claiming he offered his \u201cexpert opinion\u201d rather than \u201ceveryday lay experience\u201d on FTX\u2019s services.<\/p>\n

\u201cBy seeking to prove misappropriation through testimony from customers and others regarding their beliefs and expectations, the Government is trying to sidestep its burden to prove an essential element of its embezzlement theory beyond a reasonable doubt,\u201d said the filing. \u201cIndeed, evidence of customers\u2019 belief regarding their legal relationship with FTX would only serve to distract and confuse jurors in considering the facts in light of the meaning of the Terms of Service.\u201d<\/p>\n

Related: <\/em><\/strong>Changpeng Zhao\u2019s tweet \u2018contributed\u2019 to collapse of FTX, claims Caroline Ellison<\/em><\/strong><\/p>\n

Oct. 13 marked the eighth day of Bankman-Fried\u2019s criminal trial, for which he has pleaded not guilty to all charges. This week, former Alameda Research CEO and SBF\u2019s ex-girlfriend Caroline Ellison testified, admitting to committing fraud at the direction of Bankman-Fried by providing fraudulent documents and making misleading statements concerning Alameda using FTX funds. <\/p>\n

BlockFi founder CEO Zac Prince took the stand late on Oct. 12 and into Oct. 13, testifying on a $400-million credit line the firm provided to FTX US in July 2022 and the ripples caused by the collapse of Terraform Labs and Three Arrows Capital. The trial has been adjourned until Oct. 16.<\/p>\n

Magazine: <\/em><\/strong>Can you trust crypto exchanges after the collapse of FTX?<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lawyers representing former FTX CEO Sam \u201cSBF\u201d Bankman-Fried are seeking to bring up certain information…<\/p>\n","protected":false},"author":4,"featured_media":194906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nSam Bankman-Fried's legal team moves to pursue theory on FTX terms of service - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sam Bankman-Fried's legal team moves to pursue theory on FTX terms of service - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Lawyers representing former FTX CEO Sam \u201cSBF\u201d Bankman-Fried are seeking to bring up certain information...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-13T19:39:04+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/10\/Sam-Bankman-Friedx27s-legal-team-moves-to-pursue-theory-on-FTX-terms-of-service.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/sam-bankman-frieds-legal-team-moves-to-pursue-theory-on-ftx-terms-of-service\/\",\"name\":\"Sam Bankman-Fried's legal team moves to pursue theory on FTX terms of service - 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